BitcoinETF and the general direction of cryptocurrency

avikz

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Quote from: Blue0x.com on October 25, 2021, 09:57:56 AM

What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency? Thoughts on how this will affect fiat and current financial systems and markets?

Wall street is very wise and they know how make money from Thin air. Bitcoin ETFs are just one of many methods to make money from thin air. Because I believe all bitcoin ETF that are running in the market, are ysing CME Future derivatives as an underlying asset.

So whatever billions of dollars flowing into the bitcoin ETF market, are not flowing into the bitcoin market. So ETFs can't impact the vision of cryptocurrency. It can just create some positivity among the minds of the common people and that's it.

Hydrogen

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Quote from: Blue0x.com on October 25, 2021, 09:57:56 AM

What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency?

As with anything, there is usually good or bad. The main issue preventing literacy and knowledge is the tendency for people to oversimplify things within shades of black and white. Where context is forced to one polar extreme or the other.

Cryptocurrencies being subject to wallstreet is: inevitable. The wealthy carry the greatest influence and longest reach. Enabling them access to the best investments, tools and opportunities. Perhaps a novel concept for designing a blockchain based currency or token, would be to make it available exclusively to low to middle class income brackets. Which would probably never happen. It may be an unwritten rule that designers and implementers of crypto court the favor of the wealthy as a factor of success.

Having supporters like Michael Saylor, the Winklevoss Twins and Steve Wozniak could be necessary to the success of coins.

There can also be a dark side to it, in the form of short sellers and speculators who can profit from crashing the value of assets.

Risk and reward cannot be separated in this regard. And so the only option is to accept the good along with the bad.

Blue0x.com

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Quote from: fiulpro on October 26, 2021, 09:04:46 AM

Quote from: Blue0x.com on October 25, 2021, 09:57:56 AM

What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency? Thoughts on how this will affect fiat and current financial systems and markets?

I do think that's not really a good idea. My reasons are as follows:

Allowing companies to use Bitcoins as a tool to get other investors means the whole idea of kickin' the middle man out would subside. There would be some amount of control or centralization if this goes on a bigger basis. Bitcoins is not *owned* by anyone but it's user itself and you do not need anyone to buy it for you, that's the whole idea.

I think it would be better if people educate themselves about bitcoins and stop buying it from 3rd parties.

It would not affect the market much in terms of the price for sure if they do it at the starting, things like Bitcoin futures etc .. might be something that people might be looking forward to, we have to still wait and see what happens.

You are spot on. Buying from 3rd parties and not retaining private-keys is a huge problem right now. Some exchanges have even gone as far as to loan fiat against your crypto holdings. That's insane! It defeats the entire point of crypto and goes against it's core principles.

Wexnident

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I guess it's enough for most people to actually acknowledge and accept Bitcoin's existence as an investment instrument and as a proper asset. Though I guess it went a bit too far from its original goal of being used as a currency, I'd reckon this is still a step in future adoptions since it would still be acknowledged in some way. I do think it wouldn't affect the market that much though, those who really wanted to invest in Bitcoin should have already invested and really only those trying to enter are those who were against it in the beginning or are beginner traders imo.

Leviathan.007

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Going bitcoin to Wallstreet was good news for many people who are looking to trade bitcoin in centralized markets and legal situations also bring many new traders and investors to the bitcoin market which increases the number of people involved in it and increases the demand. But more important than anything trading bitcoin on such platforms will be literally against the base of bitcoin decentralization of bitcoin which is bad and against the point of bitcoin.

Cnut237

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Quote from: Blue0x.com on October 25, 2021, 09:57:56 AM

What are your thoughts on crypto being available as an investment instrument on Wall Street?

As crypto gets bigger, it's inevitable that governments and financial companies take an interest. It may be quite a simplification, but if it's a binary choice between crypto being accepted or banned, then I'd go for accepted. The famous Lyndon B Johnson quote on J Edgar Hoover springs to mind: "It's probably better to have him inside the tent pissing out, than outside the tent pissing in."

fiulpro

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Quote from: Blue0x.com on October 25, 2021, 09:57:56 AM

What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency? Thoughts on how this will affect fiat and current financial systems and markets?

I do think that's not really a good idea. My reasons are as follows:

Allowing companies to use Bitcoins as a tool to get other investors means the whole idea of kickin' the middle man out would subside. There would be some amount of control or centralization if this goes on a bigger basis. Bitcoins is not *owned* by anyone but it's user itself and you do not need anyone to buy it for you, that's the whole idea.

I think it would be better if people educate themselves about bitcoins and stop buying it from 3rd parties.

It would not affect the market much in terms of the price for sure if they do it at the starting, things like Bitcoin futures etc .. might be something that people might be looking forward to, we have to still wait and see what happens.

Vatimins

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Blue0x.com

In all honesty I really don't think it will affect this industry that much because the people will have it as a stock and not btc itself. You can search about what etf is for more information. But yes, in a wider scale it indeed can affect this industry through a wide-scale publicity that'll make more people especially the small individuals hear about bitcoin and be interested in this industry as a whole. This will eventually take effect more next year.

suzanne5223

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Quote from: Blue0x.com on October 25, 2021, 09:57:56 AM

What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency? Thoughts on how this will affect fiat and current financial systems and markets?

The Pro of Bitcoin is available on Wall Street as an investment instrument is that Bitcoin will more awareness and trust by people from all settings. But the Con is that there will be huge room for huge price manipulation which will have never been seen before and this is what a lot of cryptocurrency enthusiasts don't understand but as Satoshi said " there should a room for some sacrifice."

Coin_trader

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Quote from: Blue0x.com on October 25, 2021, 09:57:56 AM

What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency? Thoughts on how this will affect fiat and current financial systems and markets?

It just means that cryptocurrency direction is toward the right direction for long run. Government are now adapting crypto by regulating it. ETF is just the first step for mass adaption because many people that feared on investing crypto can invest safely now without worrying about there funds. There are types of people that always want to play safe and invest only on traditional market. This Bitcoin ETF will open the door for vast of fresh money from untapped investors.

Ucy

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Compare rates on different exchanges & swap.

I don't know much about this or what it's about, but I hope it's for good reasons that do not compromise on ideals of True Cryptocurrency. I think everyone should be guided by the good crypto ideals so they don't have regrets.
There are good boundaries that must not be crossed. Crossing the boundaries have consequences

Blue0x.com

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What are your thoughts on crypto being available as an investment instrument on Wall Street? Thoughts on how this will affect the direction and vision of cryptocurrency? Thoughts on how this will affect fiat and current financial systems and markets?

Topic: BitcoinETF and the general direction of cryptocurrency (Read 101 times)